Regulatory Alerts2020-07-10 | 2020-12033Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants
The Commodity Futures Trading Commission issued an interim final rule deferring the compliance date for initial margin requirements on uncleared swaps for swap dealers and major swap participants without a prudential regulator from September 1, 2020, to September 1, 2021. This adjustment addresses operational challenges faced by financial entities due to the COVID-19 pandemic and aligns with the revised implementation schedule established by the Basel Committee on Banking Supervision and the International Organization of Securities Commissions. The rule amends the CFTC Margin Rule to provide additional time for covered swap entities to prepare for posting and collecting initial margin while maintaining financial stability.
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